Foreign Secretary Shah Mehmood Qureshi said on Wednesday that Pakistan and Saudi Arabia signed eight memoranda of understanding during the visit of the heir crown prince of Saudi Arabia, Mohammed bin Salman, turning their “excellent bilateral relations into a strong partnership economic”.
With the visit of Prince Mohammed bin Salman, Pakistan and Saudi Arabia, a level of proximity will testify unprecedentedly based on sound economic integration,” he told a press conference on the upcoming two-day visit of Crown Prince of Saudi Arabia. Islamabad. From 16 to 17 February
The Memorandum of Understanding will relate to various sectors that include investment, finance, energy, renewable energy, internal security, media, culture and sports.
Saudi Arabia and Pakistan Sign 8 Agreements: Minister of Foreign Affairs
Minister of Information and Broadcasting Chaudhry Fawad Hussain, Adviser to the Prime Minister on Trade, Textiles, Industries and Production and Investment, Abdul Razak Dawood and Chairman of the Investment Council (BOI), Haroon Sharif, Minister for Foreign Affairs information on visiting Saudi dignitaries, with particular emphasis on its positive impact on the economy.
Qureshi said a high-level Saudi delegation, including key ministers and over 20 businessmen from leading companies, will meet with their Pakistan counterparts and discuss the potential for greater investment between the two countries.
He said a Co-ordinating Council of Pakistan and Saudi Arabia would be established after the visit, in which Prime Minister Imran Khan personally oversaw the implementation of MoUs.
He said Saudi Arabia had recently transferred $ 3 billion to Pakistan to help balance the balance and also postponed the deferred oil payments.
Information Minister Chaudhry Fawad Hussain, who calls Saudi Arabia a strong and trusted friend of Pakistan, said the Kingdom has always helped us in difficult times.
He said it was the first time that former Prime Minister Zulfikar Ali Bhutto had achieved great success on the diplomatic front.
Prime Minister Abdul Razak Dawood adviser said Saudi Arabia had plans for a $ 7 billion investment in electricity for two years, plus another $ 2 billion in renewable energy, including solar energy projects and wind .On Saudi Arabia’s interest in exploring Pakistan’s oil refinery sector, he said the feasibility study conducted by its petrochemical complex experts and hydrocracking could last between 12 and 15 months.
He said Pakistan had a great need for refined petroleum products. So Saudi Arabia has shown its willingness to satisfy the needs of the local oil market with an investment of $ 2 billion over two years, over and above investment in the mining industry. Pakistan.
Top president Haroon Sharif said Saudi Arabia has long-term comprehensive interests in Pakistan.
After visiting the Crown Prince of Saudi Arabia, the BoI would stay in constant contact with its counterparts in Saudi Arabia at a technical level, he said.
He mentioned that Saudi Arabia had planned two new cities in the Kingdom and the situation would encourage the Pakistani workforce to be accommodated in various jobs.
In response to a question whether Pakistan will pay the price in exchange for Saudi investment as part of a military coalition against Yemen, Foreign Secretary Qureshi rejects the idea, saying: “I say loud and clear that there is no condition” . associated with the Saudi investment. “
He said the Islamic Coalition commander, General Raheel Sharif, made it clear during his meeting with him that the force was not specific to any particular country or sect and that the suspicion in this regard was not good said.
Asked if the Saudi investment could be considered part of the Pakistan and China economic corridor, he said that although it was bilateral, Pakistan and China agreed to determine three special economic zones in which other countries could join, including Saudi Arabia and United Arab Emirates.
If the Kashmir problem is with Saudi crown prince in light of his visit to India next week, Qureshi said Saudi Arabia was a member of the Kashmir Contact Group and through its representative had a clear statement to support made of the position of Pakistan.
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